A group of pine landowners in Drasa, Lautoka, is set to receive $6 million in lease payments next week. This payment is a recognition of their success as resource owners and reflects the model established in the 1970s by the Fiji Pine Group of Companies.
According to a statement from Fiji Pine, “2024 has been a year of growth despite some challenges,” as the company strives to enhance various areas of its operations. The lease security bonus payments will be distributed next Wednesday at the company headquarters, where heads and representatives from thousands of landowning units (Mataqali) will gather to commemorate a fruitful year.
These occasions are significant for mataqali members, who plan their community projects and receive financial support through these bonus payments. The bonus has opened numerous business opportunities for pine landowners in the villages, with many benefiting from these annual payouts.
Since 2013, lease bonus payments have provided substantial opportunities for thousands of landowning units, growing from an initial payout of approximately $661,835, equating to $10 per hectare of pine plantations, to surpassing the $1 million mark the following year at $15.50 per hectare. To date, the Fiji Pine Group has distributed at least $25 million in lease security bonus payments to pine landowners.